C2C Gold Identifies Drill-Ready Gold Targets at its Barrens Lake Property, Newfoundland
VANCOUVER, British Columbia, Oct. 06, 2021 (GLOBE NEWSWIRE) -- C2C Gold Corp. (CSE: CTOC; OTCQB:CTCGF) (the “Company” or “C2C”) is pleased to announce the identification of multiple drill-ready gold targets from its 2021 soil sampling program, the first comprehensive gold exploration program to date, at the Barrens Lake property in the Central Newfoundland Gold Belt. Highlights include:
- Numerous strong gold-in-soil anomalies located in two Barrens Lake grids;
- Five distinct anomalies measuring at least 0.9 km up to 1.9 km in maximum direction (strike);
- Over 3,000 soil samples cover less than 10% of the Barrens Lake project area;
Exploration activity continues across the Company’s 1,261 km2 land package. Soil and rock sampling, mapping, prospecting, aeromagnetic VLF-EM airborne and LIDAR (light detection remote sensing) surveys, and GT Probe results will be released after the results are received and interpreted.
All soil sample results are returned from Barrens Lake and will be integrated with GT Probe sampling results and airborne geophysics and LIDAR data. Soil sample results are pending from the Millertown property and the south part of the Badger property. C2C has reviewed historical data with our Buchans Resources Limited joint venture partners and arranged for aeromagnetic VLF-EM airborne and LIDAR coverage over the South Tally and Lake Douglas joint venture properties. The Lake Douglas property has been prioritized for prospecting, rock sampling, and mapping to define drill targets.
To view maps of the Barrens Lake soil sample results, please visit:
Lori Walton, Chief Executive Officer of C2C Gold, states “We are very pleased with this first set of soil samples from the Barrens Lake project. As much of the area is covered by glacial till, it is important to conduct a first pass soil sample collection program. This important step has enabled C2C to identify drill-ready targets to advance our exploration programs in the Central Newfoundland Gold Belt.
Barrens Lake Property
At the Barrens Lake property, a total of 3,143 soil samples were collected over four grids, A-D, with line spacing ranging from 100 m to 300 m and samples collected every 25 m. Gold values in soil samples ranged from below detection (<0.5 ppb) to 1,234 ppb gold, with two samples assaying greater than 1,000 ppb gold and 100 samples assaying greater than 19.9 ppb gold. A total of 166 samples returned greater than 14.1 ppb gold (95th percentile). Arsenic and antimony are coincident with gold-in-soil anomalies where concentrations of these pathfinder elements are elevated. Notably, a number of the gold anomalies defined at Barrens Lake remain open to expansion as they trend off the edge of the sampling grids. Additional soil sampling will define the limits of these open-ended anomalies.
Observations from the soil sampling program indicate the anomalies generally trend to the northeast, parallel to regional structural fabrics. A percentage of the interpreted anomalies exhibit north-south and east-west trends suggestive of secondary structures. The distribution of gold-in-soil anomalies at Barrens Lake correlates with C2C’s Structural Geology Study (see news release July 14, 2021) which places the Barrens Lake property within a 50 km-long, NNE-trending system of tight regional folds oblique to thrust faults in a region between the RIL and the Valentine Lake Shear Zone.
Analytical Methods and Laboratory
Soil samples are collected by GroundTruth Exploration. QA/QC procedures include inserting field duplicates every 50 samples and taking photos of the sample site. Soil samples are prepared for analysis by Eastern Analytical Ltd., based in Springdale, Newfoundland. The pulp sample is shipped to Bureau Veritas, Vancouver, British Columbia for final analysis using analytical package AQ201. All samples are subject to aqua regia digestion and ICP-ES/MS for 35 elements.
C2C Gold Corp. gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources financial support of C2C’s 2021 exploration program on the Badger, Millertown, and Barrens Lake properties through the Junior Exploration Assistance Program.
Technical information disclosed in this news release has been reviewed and approved by Chris Buchanan, P.Geo., Chief Geologist for C2C Gold Corp., and Qualified Person as defined by National Instrument 43-101.
About C2C Gold Corp.
C2C is a Canadian mineral exploration company focused on acquiring and developing mineral projects in Newfoundland, Canada. The Company controls 1,261 km2, one of the largest land positions on the Central Newfoundland Gold Belt, including the Badger, Millertown, Barrens Lake, South Tally, and Lake Douglas projects with road access and proximity to communities and power lines. C2C also holds a portfolio of projects within the prolific White Gold and Klondike districts in Canada’s Yukon.
For additional information:
Lori Walton, Chief Executive Officer
(833) 888-2862
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as “expected”, “will be”, “anticipated”, “may” or variations of such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward looking statements in this news release include but are not limited to: the structure of the Option; the exercise of the Option; and the completion of the Joint Venture. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
